PHL loans funds for infra projects in Cebu and Davao
The Philippines recently secured a combined loan worth PHP75.5 billion from the Japan International Cooperation Agency (JICA) to fund the construction of two additional projects under “Build Build Build” Program.
Finance Secretary Carlos Dominguez III and JICA Philippines Chief Representative Eigo Azukizawa signed on Tuesday, June 16, 2020, the PHP 57 billion (JPY119 billion) Official Development Assistance to support the construction of the Cebu-Mactan Fourth Bridge and the Coastal Road Construction project in Central Visayas.
The supplemental financing of PHP18.5 billion (JPY35 billion) is for the Davao City Bypass Construction Project was also included.
“These two projects are among the legacies that the ‘Build Build Build’ program would like to leave to every Filipino, in our quest to elevate their living condition through infrastructure development and economic growth,” said DPWH Secretary Villar.
The 3.3-kilometer Mactan-Cebu Bridge with an elevated viaduct of 3.385-kilometer will connect Mandaue City and Lapu-Lapu City, will help to alleviate the serious traffic congestion, and will improve the economic and social development of the city.
Meanwhile, The four (4)-lane, 45.5-kilometer Davao City Bypass Road starts from Davao-Digos section of the Pan-Philippine Highway in Brgy Sirawan, Davao City going to Davao-Panabo section of the Pan-Philippine Highway in Brgy J.P. Laurel, Panabo City.
Present at the signing ceremony were Japanese Ambassador to the Philippines Koji Haneda and Public Works (DPWH) Secretary Mark Villar, DPWH Undersecretary Emil K. Sadain, and DoF Undersecretary Mark Joven.
Photo: DPWH Website